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All Journal Entrepreneur : Jurnal Bisnis Manajemen dan Kewirausahaan
Nurul Hidayanita
Fakultas Ekonomi dan Bisnis, Universitas Pekalongan
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Pengaruh Financial Distress Model Altman Z-Score terhadap Harga Saham pada Perusahaan Ritel di Indonesia Nurul Hidayanita; Meliza Zafrizal
Entrepreneur: Jurnal Bisnis Manajemen dan Kewirausahaan Vol. 4 No. 03 (2023): September
Publisher : Program Studi Manajemen Fakultas Ekonomika dan Bisnis Universitas Majalengka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31949/entrepreneur.v4i03.6514

Abstract

The number of retail companies in Indonesia tends to decrease, especially during the Covid-19 Pandemic. This decrease was caused by increasing financial distress which led to bankruptcy. Financial distress is one of the causes of a decline in financial performance and ultimately leads to bankruptcy. Therefore, this study examines the impact of financial distress on stock prices at retail companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2021. Financial distress as independent variable is measured by the Altman Z-score method. On the other hand, the dependent variable of this study is stock prices. Panel data regression using a random-effect model is applied to test the effect of financial distress on stock prices. The results of the analysis show that WCTA and MVEBVTL have no significant impact on stock prices. Meanwhile, RETA, EBITTA, and STA have a positive and significant impact on stock prices.
Co-Authors Meliza Zafrizal